This aligns with the Kingdom's Imaginative and prescient 2030 plan, which goals to construct a resilient, steady financial system with enticing development alternatives, in keeping with the HSBC New Networks of Capital: Saudi Arabia report.
Citing a survey, the report stated that Indian companies are more and more viewing Saudi as a dependable associate and 85 per cent of Indian companies – the very best amongst surveyed markets – see Saudi Arabia as a extra enticing vacation spot for commerce and funding amidst world uncertainties.
As many as 78 per cent of Indian companies are planning to extend investments in Saudi Arabia within the subsequent six months – representing the very best stage of dedication amongst any market exterior the Center East, claims the report. Trying forward over the subsequent 5 years, this determine is anticipated to rise to 88 per cent.
The report relies on a survey of 4,000 enterprise determination makers with worldwide operations, every producing annual revenues of USD 50 million to USD 500 million.
The survey uncovered insights into the evolving commerce and funding hyperlinks between Saudi Arabia and eight main world markets, together with the UK, Hong Kong, Mainland China, USA, India, Germany, UAE, and Egypt. Responses had been additionally drawn in-market, from Saudi Arabia. Bilateral commerce ties between India and Saudi Arabia have steadily grown through the years. India is the 2nd largest commerce associate of Saudi Arabia whereas Saudi Arabia is the fifth largest buying and selling associate of India. In FY25, the bilateral commerce stood at USD 41.88 billion, with Indian exports at USD 11.76 billion and imports at USD 30.12 billion.
Survey respondents from India highlighted Saudi Arabia's rising financial system (60 per cent), financial stability (56 per cent), and business-friendly insurance policies (51 per cent) as prime causes to do enterprise within the nation.
Indian firms are more and more investing in Saudi Arabia and concerned in main infrastructure and vitality tasks beneath Imaginative and prescient 2030. Indian IT and tech companies are contributing to Saudi Arabia's digital transformation, whereas curiosity can also be rising in areas like healthcare, logistics, mining, and startups, it stated.
On the identical time, Indian companies rank international possession restrictions (35 per cent) and market competitors (35 per cent) as equal prime limitations to rising their investments.
Selim Kervanci, Chief Govt Officer, Center East North Africa and Turkiye (MENAT), HSBC Financial institution Center East, stated HSBC sees unbelievable potential within the Center East, and Saudi Arabia is central to that view.
“Our analysis signifies elevated confidence from worldwide companies in Saudi Arabia's financial transformation and highlights the Kingdom's distinctive skill to mix heightened development prospects with financial stability,” Kervanci stated.
Ajay Sharma, Head of Banking, HSBC India, stated: “The strategic alignment between Saudi Arabia's Imaginative and prescient 2030 and India's Viksit Bharat agenda opens up synergistic alternatives for commerce and funding, fostering sustainable development and shared prosperity.”
